It's true. The hardest part, in my opinion, is filling in for the rhythm guitar when the guitarist wants to solo. If I can find a decent octave pedal with a separate output for the octave, I could reasonably match the guitar tone and send it all back through my cab.

EDIT: Hey look, the MicroPog does that too. Even more of a reason to get it.

Make a passive splitter box. If you're thinking of building a distortion box, that kind of thing should be easy enough?

I've been trying to piece together how it would work. The best idea I've come up with is to simply use two small 2-channel mixers to split, run the effects parallel, and recombine them. I might be able to do it with a passive mixer, but I believe the impedance mismatch post-FX will require something active.